FAS files claim against files claim against Telenor; seeks to invalidate purchase of Vimpelcom shares from Weather

Telenor has revealed that the Federal Antimonopoly Service (FAS) has filed a claim in the Moscow Arbitrazh Court, the Russian capital’s principal commercial court, against holding companies Telenor East Holding II and Weather Investments II; the legal action seeks to invalidate Telenor’s February 2012 purchase of 234 million Vimpelcom preferred shares from Weather Investments for USD374.4 million. The deal saw Telenor increase its voting share in the Amsterdam-headquartered telecoms group to 36.36%. Telenor confirms that it has not yet been formally notified of the claim by the FAS or the court, but reports that the Vimpelcom Group, Vimpelcom (Russia), Vimpelcom Holdings, Altimo and Altimo Cooperatief have all been named as interested third parties in the FAS claim

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OVETEL FAS files claim against files claim against Telenor; seeks to invalidate purchase of Vimpelcom shares from Weather